Category Archives: Business

Fashion Landmark: ICONIC Debuts Its Biggest Central India Store in Raipur

Raipur, it’s your time to shine—because Iconic has officially arrived! Iconic, one of India’s most loved lifestyle and fashion destinations, has just unveiled its grandest store yet in Central India. Nestled in the heart of the city at Zora The Mall, this sprawling 27,000 sq. ft. flagship is more than just a store—it’s a bold statement, a style revolution, and a celebration of global fashion, all rolled into one. The new store was inaugurated by the Hon’ble Chief Minister of Chhattisgarh, Vishnu Deo Sai and Deputy Minister Arun Sao, turning this launch into a landmark moment for Raipur! This prestigious event marks the arrival of Iconic as the city’s leading fashion destination, setting a new standard for style, luxury, and global fashion in Central India.

Designed as a complete fashion ecosystem, the new Iconic store offers dedicated sections for Men, Women, and Kids, bringing together an extraordinary selection that caters to every age, style, and mood. But what truly makes this destination a game-changer is its carefully curated portfolio of world-class brands that are loved across continents.

Step inside, and you’ll be instantly transported into the refined world of international fashion. From the polished elegance of GANT, the American brand known for its preppy classics, to the effortless edge of DKNY, born from the energy and spirit of New York City, every label tells a story. For the free spirited, denim lovers, True Religion offers new styles with its iconic styles & bold stitch detailing. Fashion-forward men will find their match in Antony Morato, the Italian powerhouse delivering contemporary silhouettes with a bold, confident flair, while Shantanu & Nikhil bring a touch of modern Indian couture that fuses tradition with high fashion.

For women, the collection is a dreamscape of global styles—Elle delivers Parisian poise with a modern edge, while DKNY channels the bold, urban spirit of New York. For those who appreciate timeless sophistication, GANT offers classic elegance with a contemporary twist. And of course, Iconic’s very own curated line stands out with trend-forward pieces designed to elevate every wardrobe. Whether it’s refined elegance or confident street style, there’s something here for every woman with an eye for international fashion.

According to Apoorv Sen, COO of Iconic, “Raipur represents more than just a new location; it symbolizes the next chapter in our expansion journey. As we grow across India, we are intentionally stepping into dynamic, fast-growing cities full of potential. Our entry into Chhattisgarh is a strategic move, and we’re confident this vibrant city will embrace the Iconic experience.”

More than just shopping, Iconic Raipur offers a fashion-forward experience that’s immersive, exciting, and elevated. With the largest lifestyle variety the city has ever seen—ranging from occasion wear and premium formals to trendy everyday essentials—this is where global style finally meets local vibes.

Vijay Jhanwar, owner of Zora The Mall stated, “The arrival of ‘Iconic’ at ZORA The Mall, Raipur, is a milestone for Chhattisgarh. With its standout brand mix and premium offerings, it’s set to raise the fashion bar in the region. Wishing the team great success on this exciting launch.”

Iconic Raipur is here to redefine the way the city shops. So come for the brands, stay for the experience, and leave with a wardrobe that turns heads.

Keysight Partners with NATO FORACS to Strengthen Global Naval Readiness

April 29, 2025

Amsterdam, Netherlands. – Keysight Technologies, Inc. (NYSE: KEYS) has been awarded a contract with NATO’s Naval Forces Sensor and Weapons Accuracy Check Sites (FORACS) to modernize its testing capabilities for critical radar and electronic support measures (ESM) systems. Under this agreement, Keysight will deliver Radar Target Generator and Electronic Warfare testing (EW) solutions to be deployed at NATO Navy bases, enabling the calibration and maintenance of NATO radar systems and the assessment of ESM effectiveness.

Modern military and naval forces depend heavily on the accuracy and reliability of their radar and ESM systems for maintaining situational awareness, effective targeting, and timely threat detection. In an era of increasingly complex and rapidly evolving electronic warfare threats, defense organizations require sophisticated, high-fidelity test environments. These environments must be capable of replicating real-world scenarios with dynamic multi-emitter signals, advanced threat modeling, and closed loop testing methodologies.

Keysight’s Radar Target Generator and EW solutions are designed to meet these demanding requirements, empowering NATO FORACS to rigorously assess and optimize the operational readiness of radar and ESM systems across all member nations. The contract encompasses the integration and delivery of next-generation Radar Target Generators and EW threat simulators. This will ensure enhanced accuracy verification and thorough system performance testing within complex electromagnetic environments. Notably, the Radar Target Generator leverages commercial-off-the-shelf Keysight components, featuring customized firmware and a graphical user interface developed entirely in Europe and tailored to meet NATO’s specific requirements.

The systems that Keysight will deliver to NATO is defined by several key factors, including:

• High-fidelity Radar Target Generation: Simulates precise radar returns, including Doppler shift, range, and cross-section variability, enabling accurate testing of radar tracking.
• Sophisticated EW threat simulation: Creates complex electromagnetic threat environments with multi-emitter interference, jamming, and deceptive techniques to evaluate ESM system effectiveness.
• Customizable, open-architecture design: The modular hardware and software framework allows for incremental system upgrades, ensuring adaptability to future mission requirements.
• Deployable and modular configuration: Designed for field and lab deployment, providing flexible testing capability across multiple NATO sites.

 The NATO FORACS Office in NATO Headquarters in Brussels, reported: “The NATO FORACS Office is pleased to note the placement of this contract which will supply important equipment to restore NATO FORACS’ core radar and ESM testing capabilities in order to meet its users’ evolving demands.”

Thierry Locquette, EMEA VP and GM at Keysight, said: “NATO’s ability to verify and enhance the accuracy of its radar and ESM systems is critical to mission success in today’s contested electromagnetic spectrum environment. Keysight is proud to provide the cutting-edge solutions necessary to enable NATO FORACS to maintain the highest levels of sensor performance, ensuring operational superiority across allied forces. Our Radar Target Generator solution was developed in Europe, working closely with our local R&D and solution centers as well as with European technology partners to provide a highly realistic, flexible, and future-ready test capability for NATO’s evolving defense needs.”

5 Budget ACs Offering Premium Cooling Comfort

Summer is here, and so is the hunt for an air conditioner that doesn’t burn a hole in your pocket. The good news? You don’t need to compromise on performance to stay within budget. Here are 5 top-rated ACs that are big on cooling, easy on the wallet, and available at Lotus Electronics.

1. Lloyd Wall Mounted Split AC 1.5 Ton 5 Star Inverter 
The Lloyd GLS18I5KWCGR offers exceptional energy savings with its 5-star BEE rating and variable speed inverter compressor that adjusts power based on heat load. This AC provides rapid cooling, anti-viral filters, and stabilizer-free operation, making it ideal for Indian summers. Its sleek and stylish design blends into any modern home, while the copper condenser ensures durability and efficient performance. If you want superior cooling and long-term savings, this Lloyd AC is an excellent investment.

2. LG Wall Mounted Split AC 1.5 Ton 3 Star Inverter 
The LG US-Q19HNXE is built for intelligent cooling with its AI Dual Inverter technology that automatically adjusts cooling based on user habits and ambient conditions. With a 3-star rating and energy-efficient operation, this AC ensures low power consumption without compromising performance. It also features LG’s Ocean Black Protection for durability in humid or coastal regions, along with low-noise operation for undisturbed comfort. Perfect for tech-savvy homes, this AC promises both convenience and consistent performance.

3. Hitachi Wall Mounted Split AC 1.5 Ton 3 Star Inverter
Designed for premium cooling and sleek aesthetics, the Hitachi IZEN 3400SXL delivers uniform airflow with advanced inverter technology. Its 3-star rating ensures optimal energy use, while the expandable inverter adjusts performance during peak heat. The AC also boasts an eco-friendly refrigerant and filter-clean indicator, enhancing longevity and maintenance ease. With silent operation and a high ambient cooling feature, this AC ensures comfort even at 52°C. It’s ideal for users who want powerful cooling with elegant Japanese engineering.

4. Voltas Wall Mounted Split AC 1.5 Ton 3 Star Inverter 
Voltas’ 183V Vertis Zephyr Gold AC brings reliable cooling and affordability together in a stylish gold-accented unit. It features a high-efficiency inverter compressor that saves energy while providing consistent performance. With a 3-star BEE rating, anti-dust filters, and low-noise operation, it’s a great choice for households seeking dependable cooling without a heavy electricity bill. Its turbo mode and multi-stage filtration also ensure a healthier indoor environment. A solid pick from one of India’s most trusted AC brands.

5. Blue Star Wall Mounted Split AC 1.5 Ton 3 Star Inverter Wifi
This Blue Star IC318VNUS AC blends smart features with efficient cooling. It comes with built-in Wi-Fi, allowing you to control your AC through voice assistants or a mobile app—making it perfect for modern, connected homes. The inverter compressor ensures lower energy bills, while precision cooling keeps room temperature consistent. It also includes self-cleaning technology, anti-corrosive blue fins, and a hidden digital display. With elegant design and smart connectivity, it’s a premium solution for today’s smart households.

Stay cool and comfortable this summer without breaking the bank. These budget-friendly ACs from top brands ensure premium cooling performance. Explore more options and exclusive deals at Lotus Electronics.

Godrej Expands Cooling Range with Compact and Portable ‘Edge Minicool’

Chandigarh, 29 April 2025: Considering the harsh summer temperatures and prioritising the consumer’s urgent need for multiple cooling solutions at home, the Appliances Business of Godrej & Boyce, part of Godrej Enterprises Group has introduced its latest offering in the air cooler segment – Edge Minicool, a compact personal cooler. The product is designed to meet the growing demand for portable, elegant-looking and effective cooling solutions.

Godrej’s Edge Minicool is a slim, compact and convenient personal air-cooler that can be moved anywhere in your home for enhanced cooling. It has a 37-litre water tank with water level indicator, and a built-in ice chamber to provide an extra cooling boost on particularly hot days. Its 5-bladed aerodynamic 12” fan ensures powerful air throw and is supported by 3-side air suction for superior cooling. For added convenience and hygiene, it features fully collapsible louvres and anti-bacterial odourless honeycomb cooling pads that helps deliver cleaner, healthier and fresher air. Also designed for durability, it has protection from overheating (pump and fan motor), and it comes with sturdy castor wheels with brakes for easy mobility.

Speaking on the new launch, Mr. Kamal Nandi, Business Head & EVP at Appliances Business of Godrej Enterprises Group, said, “Worsening summer temperatures is leading to an urgent need for multiple, efficient and affordable cooling solutions at consumer homes. With the launch of Edge Minicool, we are expanding our cooling portfolio to offer compact portable and versatile cooling solutions for today’s space-conscious consumers. With a strong air cooler product portfolio spanning up to 100 L, we have already registered 2X growth in FY 24-25, and are targeting 50% growth in the Air Cooler category in the next year.”

Electrify Your Festive Season: Ola’s 72-Hour Electric Rush Brings Akshaya Tritiya Benefits

Bengaluru, April 29, 2025 – Ola Electric, India’s largest pure-play EV company, today announced 72-Hour Rush including special offers and benefits on the entire S1 portfolio ahead of the auspicious occasion of Akshaya Tritiya. As part of the 72-Hour Rush, customers can avail discounts of up to ₹40,000 on Gen 2 and Gen 3 models, along with free extended warranty.  Customers in select states can enjoy #HyperDelivery (same-day delivery) on their new Ola scooters, making their Akshaya Tritiya celebrations even more special. The offers will be valid starting today, till 30th April.

Ola Electric also rolled out same-day delivery and registration of vehicles under #HyperDelivery. Pilot of #HyperDelivery has started in Bengaluru, and is being scaled up across India during this quarter in a phased manner. Customers can now complete their purchase online or at an Ola Electric Store and ride home on their fully registered vehicles in just hours.

The company recently rolled out the first Roadster X motorcycle from its Futurefactory. The Roadster X series offers a breakthrough in motorcycle technology and comes with first-in-segment patented brake-by-wire technology with single ABS, and smart MoveOS 5 features such as advanced regeneration, cruise control, and reverse mode. The battery system of the Roadster X series gets an IP67 waterproof and dust-proof certification, advanced wire bonding technology, and a serviceable Battery Management System (BMS) enabling easy maintenance.

Ola Electric Launches 72-Hour Electric Rush with Festive Akshaya Tritiya Offers

Bengaluru, April 29, 2025 – Ola Electric, India’s largest pure-play EV company, today announced a 72-Hour Rush including special offers and benefits on the entire S1 portfolio ahead of the auspicious occasion of Akshaya Tritiya. As part of the 72-Hour Rush, customers can avail discounts on Gen 2 and Gen 3 models, along with a free extended warranty. Customers in select states can enjoy #HyperDelivery (same-day delivery) on their new Ola scooters, making their Akshaya Tritiya celebrations even more special. The offers will be valid starting today, till 30th April.

Along with the expanded Gen 3 portfolio of scooters, the company continues to retail its Gen 2 scooters, including the S1 X (2kWh, 3kWh, and 4kWh) and the S1 Pro.

The company’s Gen 3 portfolio consists of the flagship S1 Pro+ (5.3kWh and 4kWh), and the S1 Pro, available in 4kWh and 3kWh battery options. The S1 X range is also available in 2kWh, 3kWh, and 4kWh variants, with the S1 X+ offered with a 4kWh battery.

Ola Electric also rolled out same-day delivery and registration of vehicles under #HyperDelivery. Pilot of #HyperDelivery has started in Bengaluru, and is being scaled up across India during this quarter in a phased manner. Customers can now complete their purchase online or at an Ola Electric Store and ride home on their fully registered vehicles in just hours.

The company recently rolled out the first Roadster X motorcycle from its Futurefactory. The Roadster X series offers a breakthrough in motorcycle technology and comes with first-in-segment patented brake-by-wire technology with single ABS, and smart MoveOS 5 features such as advanced regeneration, cruise control, and reverse mode. The battery system of the Roadster X series gets an IP67 waterproof and dust-proof certification, advanced wire bonding technology, and a serviceable Battery Management System (BMS) enabling easy maintenance.

M1 NXT Partners with Singapore-based Air8 to Expand Global Trade Financing for SMEs

April 29, 2025: M1 NXT, an international trade financing platform, has announced its strategic partnership with Air8, a global supply chain financier, to enhance cross-border trade finance accessibility for small and medium enterprises (SMEs) worldwide. This strategic partnership aims to make cross-border trade financing more accessible, helping businesses navigate the complexities of cross-border trade and mitigate risks associated with international buyers.

The Indian MSME export sector has witnessed remarkable growth, with total export value reaching ₹12.39 lakh crore in 2024-25. The number of MSME exporters has surged to 173,350, since 2020-21. On the global front, the MSME credit gap is estimated at $5.7 trillion, highlighting the urgent need for accessible trade financing solutions presenting a vast opportunity for Trade finance.

Air8 is a digital venture of LFX, an affiliate of the world’s leading supply chain solutions manager, Li & Fung group, nurturing SME exporters in the emerging markets for a sustainable future. Since its inception in 2021, Air8 has achieved over USD 1 billion in annual Gross Merchandise Value (GMV) and has financed suppliers across multiple countries.

M1 NXT is a subsidiary of Mynd Solutions Pvt Ltd, India’s leading TReDS platform operator. M1 NXT, operating under the International Trade Financing Services (ITFS) framework at GIFT City, connects exporters and importers with global financial institutions, simplifying access to working capital.

Through this partnership, Air8 joins M1 NXT as a financier, expanding financing opportunities for businesses engaged in global trade. With expertise in risk assessment and supply chain financing, Air8 will provide fast, reliable, and cost-effective financing solutions, enabling SMEs to optimize working capital and scale their international operations. This will further allow M1 NXT to offer tailored financial solutions, ensuring greater access to trade finance for SMEs navigating global markets.

“This partnership strengthens M1 NXT’s mission to bridge the global trade finance gap for SMEs,” said Munindra Verma, CEO of M1 NXT. He added, “By integrating our robust ITFS platform with Air8’s deep experience in supply chain finance, we are accelerating financial inclusion and liquidity for companies that participate in international trade. We are creating a more inclusive and streamlined ecosystem, one that allows SMEs to gain access to working capital, reduce risks, and grow into global markets with confidence.”

Ankit Verma, India Lead of Air8 said, “The global MSME credit gap of $5.7 trillion underscores the urgent need for accessible and efficient financing solutions. This gap highlights the urgent need for accessible and efficient financing solutions. Our collaboration with M1 NXT will empower businesses by providing them with the financial tools to scale operations, manage risks, and explore new opportunities. Together, we aim to bridge the credit gap and support the growth of vibrant SME ecosystems worldwide.”

AIBI Hosts 2nd Edition of SME Conclave in Kochi with BSE, NSE, and ICAI

Kochi, 29 April 2025: The Apex body of Investment Bankers of India; AIBI, in collaboration with the National Stock Exchange (NSE), BSE (Bombay Stock Exchange), and the Institute of Chartered Accountants of India (ICAI), organized the second edition of Small and Medium Enterprise (SME) Conclave in Kochi on 22^nd April 2025 at Hotel Radisson Blu. The goal of this Conclave was to increase awareness about SME IPOs, opportunities and challenges.

Shri Ashwani Bhatia, Whole Time Member, Securities and Exchange Board of India (SEBI) graced the event as the Chief Guest and shared his insights on the evolving SME ecosystem and regulatory support for capital formation. The conclave also featured a series of high-powered panel discussion with representatives from NSE, BSE, ICAI and AIBI. This discussion delved into critical and strategic aspects of the SME IPO journey, including market readiness, regulatory compliance, due diligence, and the role of intermediaries in nurturing credible SME listings.

Themes discussed during the conclave included:

• Transparency and Disclosure in Indian Capital Market

• Success Factors for SMEs in Public Capital Markets

• Role of Merchant Banker in the journey to listing

• Opportunities for CA Professionals in Primary Markets.

The Conclave bought together key stakeholders from the financial ecosystem — including Investment Bankers, Chartered Accountants, Company Secretaries, SME promoters, and policy influencers, to promote awareness, collaboration, and best practices in the SME capital market ecosystem. Some of the notable key dignitaries at the event were Shri. Deep Mani Shah – CGM, SEBI, Shri. Jitendra Kumar – GM, SEBI, Shri. Ankit Sharma – CRO, NSE, Dr. Milind Dalvi – CEO, AIBI, Ms. Radha Kirthivasan – Head Listing & SME, BSE, Shri. Venkatraghavan S. MD, Equirus Capital (Director, AIBI), CA. Babu Abraham Kallivayalil, Central Council Member, ICAI, Ms. Parvathi Moorthy – AVP, SME Business Development, NSE, CA. Durgesh Kumar Kabra, Chairman, CFMIP, ICAI, Shri. Alok Harlalka – MD, Gretex Corporate Services Ltd. and CA. Dayaniwas Sharma, Vice-Chairman, CFMIP, ICAI. 

Elaborating on significance of SMEs in the financial ecosystem of India, Dr. Milind Dalvi, CEO, AIBI said, “Our SME Conclave highlighted the critical importance of nurturing and supporting Small and Medium Enterprises, the backbone of India’s economy. Through this initiative, we sought to create a platform for awareness, guidance, and empowerment, enabling SMEs to successfully navigate the complexities of regulatory compliance, financial management, and investor expectations, ultimately paving the way for successful public listings and sustained growth. AIBI endeavours to curate more such interactive events across regions to empower SMEs and help them elevate to the next level.”

Sonata Unveils ‘Sonata Gold’ Watches This Akshaya Tritiya, Redefining Gold Gifting

Chandigarh, 29 April 2025 – Sonata, India’s most loved watch brand, introduces Sonata Gold – a stylish and thoughtfully crafted collection that reimagines the way we experience gold. At the intersection of form and function, Sonata Gold presents a bold new way to wear your love for gold – not just as a tradition, but as a personal style statement.

With Akshaya Tritiya, a time associated with prosperity and positive beginnings, just around the corner, Sonata Gold offers a refreshingly modern take on gold gifting. Each timepiece in this collection features a genuine 0.15g 22K Tanishq Gold Coin set into its dial, a gleaming detail that speaks volumes about craftsmanship, legacy, and design.

This collection is perfect for those who appreciate the finer details, from the sleek case design to the contrast of a lacquered high-polish black dial with the embedded gold coin, and a genuine leather strap that adds a touch of quiet sophistication.

Speaking on the new offerings, Mr. Prateek Gupta, Brand Head at Sonata, said, “Sonata Gold isn’t just a watch – it’s an experience. We wanted to create something that feels premium, timeless yet trend-forward. These watches are for those who value design – a subtle yet strong expression of gold, for yourself or for someone you love.”

Financial Results Announced for Quarter and Year Ended March 31, 2025

Business Highlights

• Total Business grew by 14.12% Y-o-Yto Rs. 5,13,527Crore as on 31.03.2025 from Rs. 4,50,007 Crore as on 31.03.2024.
• Total Deposits increased by 11.56% Y-o-Y basis to Rs. 2,93,542 Crore as on 31.03.2025 from Rs. 2,63,130 Crore as on 31.03.2024.
• Gross Advances grew 17.72%  Y-o-Y to Rs. 2,19,985 Crore as on 31.03.2025 as against Rs. 1,86,877 Crore as on 31.03.2024.
• RAM (Retail, Agri & MSME) business stood at Rs.1,22,613Crore as on 31.03.2025as against Rs.97,516Croreas on 31.03.2024, registering a growth of 25.74% Y-o-Y basis.
• Retail Advances stood at Rs. 54,255 Crore as on 31.03.2025 as against  Rs .40,161 Crore as on 31.03.2024 registering a growth of 35.09%Y-o-Y basis, backed by growth in Home loan and Vehicle loan portfolio which registered a growth of 18.13% and 58.99% respectively on Y-o-Y basis.
• Agriculture Advances stood at Rs. 29,575 Crore as on 31.03.2025 as against Rs. 24,641 Crore as on 31.03.2024, showing a growth of 20.02% Y-o-Y basis.
• Advances to MSME sector stood at Rs. 38,783 Crore as on 31.03.2025 as against Rs. 32,714 Crore as on 31.03.2024, registered a growth of 18.55% Y-o-Y basis.
• Business per employee improved to Rs.24.35Croreas on 31.03.2025 as against Rs.20.93Crore for the same period of preceding year.
• Operating Profit for the quarter ended 31.03.2025 stood at Rs. 1,699 Crore registering a growth of 33.48% Y-o-Y basis as against Rs. 1,273 Crore for the same period of preceding year. For the year ended  March 2025, Operating Profit has grown by 31.92% to Rs. 6,037C rore as against Rs. 4,576 Crore for the year ended March 2024.
• Net Profit for the quarter ended 31.03.2025 stood at Rs.652Crore as against Rs.526Crore for the same period in the preceding year, registering a growth of 23.98% Y-o-Y. Net profit stood at Rs. 2,445 Crore for the year ended March 2025 showing a growth of 47.80% Y-o-Y as against Rs. 1,654 Crore for year ended March 2024.
• Net Interest Income (NII) for the quarter ended 31.03.2025 stood at Rs. 2,698 Crore registering a growth of 23.35%  Y-o-Y basis as against Rs. 2,187Crore for the same period of preceding year. For the year ended March 2025, Net Interest Income(NII) grew by 18.88%  Y-o-Y basis to Rs. 9,630 Crore as against Rs. 8,101 Crore for the year ended March 2024.
• NIM for the year ended  March 2025 stood at 3.08% as against 2.92% for the year ended March 2024..
• Earning per share improved to Rs. 2.04 as on 31.03.2025 as against Rs. 1.38 as on 31.03.2024.

Asset Quality

• Gross NPA improved to 2.69 % as on 31.03.2025 as against 3.46% as on 31.03.2024, registering an improvement of 77 bps Y-o-Y.
• Net NPA improved to 0.50 % as on 31.03.2025as against0.89% as on 31.03.2024, registering an improvement of 39 bpsY-o-Y.
• Provision Coverage Ratio stood at 96.69% as on 31.03.2025.

Dividend

• Dividend @ 3.90% (i.e @ 39 paise per equity share) is proposed for the year 2024-25.

Branch Network

• As on 31.03.2025 Bank hada network of 3302 domestic branches and 2 overseas branches each at Hong Kong and Singaporeand 1 Representative Office in Iran. Out of the total branches, Bank has 2031 (61%) branches in rural & semi-urban areas. Bank has 2522 ATMs and 10653 BC Points making the total number of 16480 touch points as on 31st March 2025.